Argan: Jefferies starts tracking on hold
(CercleFinance.com) - On Wednesday, Jefferies started to monitor Argan shares with a "hold" rating and target price of E71.
In a study of European property companies, the broker emphasizes that the specialist in high-end warehouses has been penalised by the sluggishness of the French commercial leasing market, even though the trend has recently firmed up a little.
The broker is also concerned about a possible downgrading of S&P's rating in view of the company's debt-to-equity ratio, which it considers to be dangerously close to the 50% mark.
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